LZC definition

LZC and “L▇▇” have the right to appoint each vice president. Both chairman and vice presidents shall serve for 4 years.
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LZC means the City of Lynnwood Zoning Code. 150
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Examples of LZC in a sentence

  • Annual report must be submitted to LZC and L▇▇ before the end of February of each year.

  • If either LZC or L▇▇ has notified another party of the Deadlock situation according to above Article, representative of LZC and L▇▇ shall perform a final negotiation to resolve Deadlock within 30 working days.

  • LZC will subscribe and invest ￥51,000,000 covering 51% of the registered capital.

  • If the partial or entire Agreement cannot be executed due to a breach of an agreement by either LZC or L▇▇, the violating party shall be responsible for the breach.

  • If any dispute shall arise between LZC and L▇▇ regarding this Agreement, it should be resolved by a friendly negotiation.

  • Approval of remedy plan for losses of the Joint Venture Company: LZC and L▇▇ should share the losses according to each party’s equity rate.

  • If both LZC and L▇▇ do not wish to operate Joint Venture Company within 30 working days from the date when the negotiation based on the Article 41 failed, it shall be considered as LZC and L▇▇ agree to dissolute the Joint Venture Company.

  • Surplus asset after repaying such debt shall be allocated to both LZC and L▇▇ according to each party’s capital contribution rate.

  • If either LZC or L▇▇ violated the responsibilities set in item 3 of article 44 of chapter 16 of the Agreement, and does not amend such actions within 10 working days from the date that the agreement observing party requested amendment, the agreement observing party can terminate the Agreement and notify the termination of the Agreement to the violating party.

  • The Joint Venture Company shall have 2 supervisors, and LZC and L▇▇ shall appoint one supervisor each, and BOD meeting approves the appointments.